A Policy Clause, Termed _____ Clause, Addresses the Potential Problem

question 28

Short Answer

A policy clause, termed _____ clause, addresses the potential problem of duplicating coverage when two or more similar policies cover the same exposure.

---

Definitions:

Fraudulent Misrepresentation

A false statement made knowingly, without belief in its truth, or recklessly, with intent to deceive and induce another to enter into a contract.

Innocent Misrepresentation

A false statement made by someone who believed it to be true, leading another party to enter into a contract.

Misrepresentation

Misrepresentation is the providing of false or misleading information that induces another party to enter into a contract, potentially leading to legal consequences.

Duress

Duress refers to a situation where a person performs an act as a result of violence, threat, or other pressures against them, which can invalidate any agreement made under such conditions.